It's not just that universities are no longer fit places for teaching, learning and research, but something bigger is at play, which I see as "the death of adulthood". HE institutions are leaders in this 'infantilisation' which is toxic to self-development and personal responsibility.
A big factor is the aggressive intrusion of US BigTech; Turnitin, Grammarly etc... violating "proctoring" software, just a pathological and pointless quest systematise and lock-down absolutely everything.
Another reason universities have been morally upended is putting vanity and appearance before substance. They care more about how they are seen, in league tables and in social media, than they care about their students. Self-deluding PR has made universities worse than some of the most cringe corporations.
As a recovered "academic" prof (they are not really academies any longer but holding-pens and "degree vendors") I absolutely would not want my own kids to waste their time or money there.